Crypto analyst Abiodun Oladokun says WIF is on its way to $2. The analyst also predicts further upside for XRP. According to analyst Aaryamann Shrivastava, SEI has a long way to go to recover its losses. We have compiled analysts’ predictions for these 3 altcoin projects for our readers.
WIF price prediction: The altcoin is going for $2!
At the time of writing, WIF is trading at $1.70. Its value has fallen 3% since the $1.77 recorded on Wednesday. Despite the small price drop, WIF is set to extend its rally. As of this writing, the meme coin’s key momentum indicators are trending upwards above their respective 50-neutral lines. WIF’s Relative Strength Index (RSI) is 56.07, while its Money Flow Index (MFI) is 75.99. These indicators measure an asset’s overbought and oversold market conditions. At their current values, WIF’s RSI and MFI indicate that buying pressure is dominating the meme coin market.
Moreover, WIF’s positive Elder-Ray Index confirms the bullish trend following the meme coin. At the time of writing, the value of the indicator stands at 0.21 and above the zero line. If the altcoin continues its current uptrend, the next price target is $1.99. The continued demand for WIF and the bullish sentiment among traders will cause its price to regain the $2 price level and trade above it.
However, any reversal in the current trend could put downward pressure on WIF’s price. This could cause it to fall as low as $1.07, the lowest level recorded during the overall market decline on Monday.
XRP price prediction: The altcoin is looking to extend its gains!
XRP’s price action on the 12-hour chart suggests the possibility of a long rally. For instance, the Directional Movement Index (DMI) readings show that a bullish crossover of the positive directional indicator (+DI) (blue) and the negative directional indicator (-DI) (red) occurred following Judge Torres’ ruling. An asset’s DMI measures trend strength. When the DMI rises above the -DII, this is a bullish sign indicating that buying pressure is increasing and the bullish strength of the market is rising.
Additionally, according to XRP’s Moving Average Convergence/Divergence (MACD) indicator, the MACD line (blue) moved above the signal line (orange) on Wednesday. This is also a bullish signal. It also indicates that the altcoin price momentum is increasing. This crossover usually indicates that the asset’s short-term momentum is stronger than its long-term momentum, prompting investors to consider buying. If the demand for XRP remains high, its price will climb to a five-month high of $0.66. However, if profit-taking activity starts, its price will fall towards $0.56.
SEI price forecast: A long road ahead!
It is possible that SEI could benefit from a shift in investor sentiment, which has been quite bearish towards the altcoin recently. This is signaled by SEI’s funding ratio turning positive. This is an extremely encouraging development for the altcoin. These factors are likely to help SEI’s price rebound. This is because the broader market clues also favor a rally. This could push the altcoin from $0.2493 towards the next important resistance level at $0.3090. If this barrier turns into support, it would allow the SEI price to bounce towards $0.3952. This would mean for the altcoin to make up for the 43% collapse.
However, if the breach fails, it is possible that the SEI consolidates below the $0.3090 resistance and above the $0.2265 support base, as it has done in the past. Prolonged consolidation is likely to delay the rebound and invalidate the bullish thesis.
The opinions and forecasts in the article are those of analysts and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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